Recording PPE Long Term Assets

fancyflush

I am struggling to understand how to record PPE with a value. I added the item to my chart of accounts. The item is paid off in full via my bank account prior to me using Wave systems. I have created a journal entry per this post for the account: https://support.waveapps.com/hc/en-us/articles/208622796-Starting-balances-What-they-are-and-how-to-enter-them-in-Wave

I see that it adds value to the long-term account as well as the owner's equity. I recently purchased more equipment in full via my bank account. This transaction shows up on my transaction feed and I applied the withdrawal to the appropriate PPE account. It shows up on my balance sheet under the correct long-term account but it does not show up under the owner's equity.

Did I not add the previously purchased long-term asset correctly? If I did, how do I get the new long-term asset to also show up on the owner's equity?

HelpIfICan

The value of the new long-term asset is not going to show up on owner's equity unless you paid for the new PPE with your own personal funds. The PPE you had already paid for, was it paid for with your personal bank account? That's why you had an increase in owner's equity at the time. If you paid for the new PPE with a business account, that will not increase owner's equity. The only accounts affected would be PPE and Cash, not Owner's Equity. Owner's Equity increases with your contributions from your personal funds or assets or expenses you paid for personally. In addition, increased sales and decreased expenses will have an effect. None of that applies here.